This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Georgia Power Seeks Approval To Retire Generating Units At Four Plants

ATLANTA, Jan. 7, 2013 /PRNewswire/ -- Georgia Power expects to request approval from the Georgia Public Service Commission (PSC) to decertify and retire 15 coal- and oil-fired generating units totaling 2,061 megawatts (MW), the company announced today.

The request to decertify units 3 and 4 at Plant Branch in Putnam County; units 1-5 at Plant Yates in Coweta County; units 1 and 2 at Plant McManus in Glynn County; and units 1-4 at Plant Kraft in Chatham County, will be included in Georgia Power's updated Integrated Resource Plan (IRP) that will be filed with the PSC on Jan. 31.

Units 3-4 at Branch, units 1-5 at Yates and units 1-3 at Kraft are coal-fired generating units. Kraft Unit 4 is oil- or natural gas-fired, and McManus units 1-2 are oil-fired.

The company expects to ask for decertification of the units, other than Kraft 1-4, by the April 16, 2015 effective date of the U.S. Environmental Protection Agency's (EPA) Mercury and Air Toxics (MATS) rule. The company expects to seek a one-year extension of the MATS compliance date for Plant Kraft, and retire those units by April 16, 2016. The PSC is expected to vote on the decertification request in the summer of 2013.

Several factors, including the cost to comply with existing and future environmental regulations, recent and forecasted economic conditions, and lower natural gas prices contributed to the decision to close these units.

Additionally, the company will ask for decertification of Boulevard 2 and Boulevard 3 combustion turbine generating units in Savannah upon approval of the IRP, due to the costs to repair and operate the units.

"We recognize the significant impact that these retirements will have on the local communities and we took that into account when making these decisions," said Georgia Power President and CEO Paul Bowers.  "These decisions were made after extensive analysis and are necessary in order for us to maintain our commitment to provide the most reliable and affordable electricity to our customers. We are in the midst of a significant transition in our fleet that will result in a more diverse fuel portfolio – including nuclear, 21 st century coal, natural gas, renewables and energy efficiency – to ensure we maintain our commitment for generations to come."

The company will also request that units 6 and 7 at Plant Yates switch from coal to natural gas. Additionally, Unit 1 at Plant McIntosh, near Savannah, will switch from Central Appalachian coal to Powder River Basin coal. The fuel switches are the result of the company's evaluation of the MATS rule, other existing and expected environmental regulations, and economic analyses.

The company also announced that the conversion at Plant Mitchell Unit 3, in Albany, from coal to biomass cannot be completed before 2017, should it move forward, due to continued regulatory uncertainty related to the Industrial Boiler Maximum Achievable Control Technology rule and other EPA rules.

The rest of Georgia Power's coal-fired fleet, including the units at plants Bowen, Hammond, Scherer and Wansley, are already in the process of installing additional environmental controls in order to comply with the MATS rule.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs